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The Boomerang Effect of the 2% Rental Price Limit: Prices Rose Three-Fold in November in Annual Terms

Fotocasa estimates that rental prices increased by 5.9% in November 2022 compared to a year earlier, with all-time highs registered in several autonomous regions.

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The rise in rental prices in Spain is continuing, despite the Government’s initiative to extend the period during which the maximum increase of 2% applies. In November, rental prices rose again by 2.9% compared to October and by 5.9% in relation to the same month in 2021, with many corners of the country registering all-time highs. In this way, the average rental price in Spain now stands at 10.79 euros per month per square metre, according to data from Fotocasa’s Real Estate Index. This year-on-year increase also represents the ninth rise in a row in 2022.

“Rental prices are continuing to rise intensely. The increases are occurring across all of the autonomous regions, with several again recording maximum historical prices. The situation is also complicated in the main provincial capitals, where demand is high but the supply of rental housing is scarce, resulting in very significant increases”, says María Matos, Director of Research and spokesperson for Fotocasa.

Read the full article in Spanish.

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